After a long time spend considering what I actually should knit, I saw this Christmas stocking at the latest VK and the issue solved itself. Christmas is a special time after all and this project does capture the meaning and spirit of the game.
I am knitting with a really strange yarn I got at a car boot sale last year for 50pence. It is a giant ball of 100% polyacrylic. I know it is cheap... but cheerful! The girl will not wear the sock, so who cares if it is soft or not. I will put a mystery personal item inside knitted from natural luxurious yarn.
My progress so far (36 rows)